Podcast
Questions and Answers
What is the basis for dividing the water and sewer bill liability between apartments?
What is the basis for dividing the water and sewer bill liability between apartments?
True or false: The lease term has a fixed end date with no option to terminate early.
True or false: The lease term has a fixed end date with no option to terminate early.
False
What is included in Main Street Management's Lessee Benefits Package for a monthly cost of $5?
What is included in Main Street Management's Lessee Benefits Package for a monthly cost of $5?
What is the responsibility of the lessee regarding lawn care?
What is the responsibility of the lessee regarding lawn care?
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What is the consequence of leaving the animal unattended for more than 24 hours?
What is the consequence of leaving the animal unattended for more than 24 hours?
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True or false: Guests can stay for up to 20 cumulative days per month without an application or fees.
True or false: Guests can stay for up to 20 cumulative days per month without an application or fees.
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Who is responsible for arranging necessary utility services in the premises?
Who is responsible for arranging necessary utility services in the premises?
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What credit bureau are positive rent payments reported to through the Lessee Benefits Package?
What credit bureau are positive rent payments reported to through the Lessee Benefits Package?
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How many days' notice is required to terminate the lease earlier than than the specified end date?
How many days' notice is required to terminate the lease earlier than than the specified end date?
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What is the time limit for snow and ice removal after a snowfall?
What is the time limit for snow and ice removal after a snowfall?
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What type of animals are not allowed in the building?
What type of animals are not allowed in the building?
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How often are charges for water and sewer billed to the Lessee?
How often are charges for water and sewer billed to the Lessee?
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What is the formula for calculating the square footage ratio?
What is the formula for calculating the square footage ratio?
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What is the consequence if the tenant is absent for two consecutive weeks without notice?
What is the consequence if the tenant is absent for two consecutive weeks without notice?
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What is the consequence of the tenant being absent for two consecutive weeks without notice?
What is the consequence of the tenant being absent for two consecutive weeks without notice?
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How many days are guests allowed to stay per month?
How many days are guests allowed to stay per month?
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What is the Lessee responsible for in regards to the animal's waste?
What is the Lessee responsible for in regards to the animal's waste?
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True or false: All lessees are responsible for paying rent and utility fees to Main Street Management.
True or false: All lessees are responsible for paying rent and utility fees to Main Street Management.
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How much does the Lessee Benefits Package cost per month?
How much does the Lessee Benefits Package cost per month?
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Will late rent payments negatively affect the Lessee's credit score with the Lessee Benefits Package?
Will late rent payments negatively affect the Lessee's credit score with the Lessee Benefits Package?
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On what day of the month does a late fee apply?
On what day of the month does a late fee apply?
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What is the Ratio Utility Billing System used for by Main Street Management?
What is the Ratio Utility Billing System used for by Main Street Management?
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What is the requirement for residents regarding liability insurance?
What is the requirement for residents regarding liability insurance?
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True or false: The Agent may inspect the premises without notice for any reason.
True or false: The Agent may inspect the premises without notice for any reason.
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What is prohibited on the premises?
What is prohibited on the premises?
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True or false: Breach of lease by the tenant or their guests cannot result in termination of the lease.
True or false: Breach of lease by the tenant or their guests cannot result in termination of the lease.
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What happens if the Lessee abandons the unit?
What happens if the Lessee abandons the unit?
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What is the minimum temperature that Lessee is responsible for maintaining during cold weather?
What is the minimum temperature that Lessee is responsible for maintaining during cold weather?
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What is the Agent responsible for providing in terms of safety equipment?
What is the Agent responsible for providing in terms of safety equipment?
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What is the purpose of Megan's Law in relation to the premises?
What is the purpose of Megan's Law in relation to the premises?
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What payment options are available through the Lessee Benefits Package?
What payment options are available through the Lessee Benefits Package?
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True or false: Lessee is allowed to sublet the unit without written permission from the agent.
True or false: Lessee is allowed to sublet the unit without written permission from the agent.
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What is the Lessee's responsibility with regards to indoor air quality and humidity?
What is the Lessee's responsibility with regards to indoor air quality and humidity?
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Who is responsible for providing liability insurance?
Who is responsible for providing liability insurance?
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True or false: Lessee is responsible for maintaining the smoke and CO detectors in the unit.
True or false: Lessee is responsible for maintaining the smoke and CO detectors in the unit.
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What is the address of Main Street Management?
What is the address of Main Street Management?
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How far away from any building structure must grills be used?
How far away from any building structure must grills be used?
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True or false: Lessee is allowed to have pets without obtaining permission from Agent in writing.
True or false: Lessee is allowed to have pets without obtaining permission from Agent in writing.
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What may result in termination of the lease?
What may result in termination of the lease?
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What is the phone number of Main Street Management?
What is the phone number of Main Street Management?
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True or false: Lessee is responsible for maintaining a minimum temperature during cold weather.
True or false: Lessee is responsible for maintaining a minimum temperature during cold weather.
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True or false: Lessee is allowed to use balconies for storage and attach items to patio or balcony railings.
True or false: Lessee is allowed to use balconies for storage and attach items to patio or balcony railings.
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What is the purpose of Lessee obtaining written consent from Agent before taking certain actions?
What is the purpose of Lessee obtaining written consent from Agent before taking certain actions?
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What is the Lessee's responsibility with regards to making changes to the unit?
What is the Lessee's responsibility with regards to making changes to the unit?
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What is the consequence of terminating the lease early?
What is the consequence of terminating the lease early?
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True or false: Lessee is not responsible for maintaining a reasonable temperature or changing furnace filters regularly.
True or false: Lessee is not responsible for maintaining a reasonable temperature or changing furnace filters regularly.
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What is the fee for a Lessee who fails to put utilities in their name?
What is the fee for a Lessee who fails to put utilities in their name?
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What is the lease break fee if Lessee terminates their lease earlier than the specified end date?
What is the lease break fee if Lessee terminates their lease earlier than the specified end date?
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True or false: Lessee will face fees for lease violations or lost keys.
True or false: Lessee will face fees for lease violations or lost keys.
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Who is responsible for pest control in the premises if it is lessee caused?
Who is responsible for pest control in the premises if it is lessee caused?
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Study Notes
- Main Street Management is leasing a premises to tenants.
- The lease term starts on a specific date and ends on a specific date, but can be terminated earlier with a 60-day notice.
- Rent and pet rent are due on the first business day of each month.
- Guests are allowed to stay for up to 14 cumulative days per month.
- Payments must be made to Main Street Management at their specific address.
- Certain utilities are included in rent, and Lessee must arrange for any additional necessary utilities.
- A security deposit and pet deposit (if applicable) are required.
- Agent may enter the unit with 12 hours' notice for inspection or to show to potential lessees or purchasers.
- If Lessee abandons the unit, Agent may dispose of any personal property left behind.
- Breach of lease may result in termination of the lease.
- In case of a casualty, the Agent has 10 days to decide whether to repair the unit or terminate the lease.
- Lessee cannot assign or sublet the unit without written permission from the Agent.
- Agent is responsible for providing smoke and CO detectors, but Lessee is responsible for maintaining their functionality.
- Criminal activity is strictly prohibited on the premises, and Lessee may have a defense against eviction if they are a victim of domestic abuse, sexual assault, or stalking.
- Megan's Law requires new residents to be informed about sex offenders in their neighborhood.
- Lessee must comply with all rules and regulations regarding the premises.
- Lessee must control indoor air quality and humidity.
- Offensive and excessive odors are not permitted inside or outside the dwelling.
- Only one vehicle per unit is allowed, and unauthorized vehicles may be towed at the owner's expense.
- Smoking is not permitted in or on any property with 4 or more units, and grills must be used 25 feet away from any building structure.
- Lessee is not allowed to park or store boats, trailers, unused, inoperable, or unlicensed vehicles on the Premises.
- Lessee shall not repair vehicles on the Premises.
- Lessee shall use small nails or pins to fasten to walls or 3M hooks.
- All residents are required to have liability insurance.
- Lessee shall keep the Unit in a clean and habitable condition and in as good repair as at the beginning of the Lease term.
- Lessee must ensure that the refrigerator is left plugged in and turned on when vacating the unit.
- Lessee is not permitted to allow any guests or invitees to reside in the Premises for more than 14 cumulative days per month without obtaining written consent from Agent.
- A $5 monthly service fee is charged by Main Street Management to cover the cost of various services.
- Lessee agrees not to assign this Lease or sublet any part of the rented Unit without obtaining written consent from the Agent.
- If Lessee fails to provide access to the unit to Agent, a vendor hired by Agent, or any representative of Agent after proper notice has been given as required by law, a fine of $50 will be imposed for each instance of non-compliance.
- Lessee must pay rent on the 1st day of the month.
- Bank service charge of $35 for returned payments.
- Lessee must return all property belonging to Agent upon vacating.
- Lessee is responsible for maintaining a reasonable temperature and replacing furnace filter regularly.
- Lessee cannot alter or make changes to the unit without written consent from Agent.
- Smoking is prohibited and a fee of $100 will be charged for smoking on the property.
- Lessee must ensure the unit is free of any unpleasant odors upon vacating.
- Lessee is responsible for any extermination or removal costs of pests caused by their neglect or misuse of the premises.
- Lessee shall properly use the garbage disposal and recycling carts.
- Lessee will be charged a relet fee of $500 if they terminate their lease early.
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Description
Test your knowledge of leasing agreements with this quiz on Main Street Management's lease terms. From rent payments to guest policies, this quiz covers all the important details you need to know. See if you can ace the quiz and become a leasing agreement expert. Don't forget to brush up on your knowledge of Megan's Law and liability insurance before you start!
